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Xstrata (XSRAF.PK, XSRAY.PK) will restructure its Australian operations and cut ~600 jobs as...
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Monday, September 10, 2012, 10:57 AM ETXstrata (XSRAF.PK, XSRAY.PK) will restructure its Australian operations and cut ~600 jobs as margins are squeezed by low coal prices, high costs and a strong Australian dollar. Australia's mining boom is losing momentum as demand weakens from China, and major cutbacks have been announced by other miners, including BHP, Rio Tinto and Fortescue Metals.
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